The price of Illinois Tool Works Inc. (NYSE:ITW) shares last traded on Wall Street rose 1.27% to $263.32.
Based on available information, 23 analysts follow Illinois Tool Works Inc. (NYSE:ITW). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $281.00 and a low of $183.00, we find $247.00. Given the previous closing price of $260.01, this indicates a potential downside of -5.0 percent. ITW stock price is now 8.92% away from the 50-day moving average and 14.36% away from the 200-day moving average. The market capitalization of the company currently stands at $78.67B.
Among analysts, 15 rate the stock a hold while 3 rate it a buy. Brokers who have rated the stock have averaged $243.72 as their price target over the next twelve months.
With the price target reduced from $240 to $220, Vertical Research Downgraded its rating from Buy to Hold for Illinois Tool Works Inc. (NYSE: ITW).
In other news, SCHEUNEMAN RANDALL J, VP & Chief Accounting Officer sold 5,425 shares of the company’s stock on Jun 12. The stock was sold for $1,297,823 at an average price of $239.23. Upon completion of the transaction, the VP & Chief Accounting Officer now directly owns 8,870 shares in the company, valued at $2.34 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 03, Chairman & CEO SANTI ERNEST SCOTT sold 235,656 shares of the business’s stock. A total of $58,040,211 was realized by selling the stock at an average price of $246.29. This leaves the insider owning 213,538 shares of the company worth $56.23 million. Insiders disposed of 380,532 shares of company stock worth roughly $100.2 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ITW stock. A new stake in Illinois Tool Works Inc. shares was purchased by EMPOWER ADVISORY GROUP, LLC during the first quarter worth $106,137,000. VIRGINIA RETIREMENT SYSTEM invested $26,472,000 in shares of ITW during the first quarter. In the first quarter, HRT FINANCIAL LP acquired a new stake in Illinois Tool Works Inc. valued at approximately $17,818,000. CAPITAL FUND MANAGEMENT S.A. acquired a new stake in ITW for approximately $13,199,000. CORNERSTONE ADVISORS, LLC purchased a new stake in ITW valued at around $8,690,000 in the second quarter. In total, there are 2,052 active investors with 82.60% ownership of the company’s stock.
A candlestick chart of Illinois Tool Works Inc. (NYSE: ITW) showed a price of $260.97 on Monday morning. During the past 12 months, Illinois Tool Works Inc. has had a low of $180.27 and a high of $260.15. As of last week, the company has a debt-to-equity ratio of 2.70, a current ratio of 1.20, and a quick ratio of 0.80. According to the stock market information, the enterprise value for the company is $86.25B, which is based on a 26.35 price-to-earnings ratio, a 6.70 price-to-earnings-growth ratio, and a beta of 1.14. The fifty day moving average price for ITW is $242.43 and a two-hundred day moving average price translates $230.65 for the stock.
The latest earnings results from Illinois Tool Works Inc. (NYSE: ITW) was released for Mar, 2023. According to the Specialty Industrial Machinery Company, earnings per share came in at $2.33, beating analysts’ expectations of $2.23 by 0.1. This compares to $2.11 EPS in the same period last year. The net profit margin was 19.30% and return on equity was 98.10% for ITW. The company reported revenue of $4.02 billion for the quarter, compared to $3.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.03 percent. For the current quarter, analysts expect ITW to generate $4.13B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 07/13/2023. Investors who held shares on 06/30/2023 were paid a $1.31 dividend. On an annualized basis, this represents a $5.24 dividend and a 1.99% percent yield. There was an ex-dividend date of 06/29/2023 for this dividend. In terms of dividend payout ratio, ITW is presently at 50.50%.
Illinois Tool Works Inc.(ITW) Company Profile
Illinois Tool Works Inc. manufactures and sells industrial products and equipment worldwide. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products. The Automotive OEM segment offers plastic and metal components, fasteners, and assemblies for automobiles, light trucks, and other industrial uses. The Food Equipment segment provides warewashing, refrigeration, cooking, and food processing equipment; kitchen exhaust, ventilation, and pollution control systems; and food equipment maintenance and repair services. The Test & Measurement and Electronics segment produces and sells equipment, consumables, and related software for testing and measuring of materials and structures, as well as equipment and consumables used in the production of electronic subassemblies and microelectronics. The Welding segment produces arc welding equipment; and metal arc welding consumables and related accessories. The Polymers & Fluids segment produces adhesives, sealants, lubrication and cutting fluids, and fluids and polymers for auto aftermarket maintenance and appearance. The Construction Products segment offers engineered fastening systems and solutions for the residential construction, renovation/remodel, and commercial construction markets. The Specialty Products segment offers beverage packaging equipment and consumables, product coding and marking equipment and consumables, and appliance components and fasteners. It serves the automotive OEM/tiers, commercial food equipment, construction, general industrial, and automotive aftermarket end markets. The company distributes its products directly to industrial manufacturers, as well as through independent distributors. Illinois Tool Works Inc. was founded in 1912 and is based in Glenview, Illinois.
